Home improvements – the latest property trend
Have you been thinking about improving your home rather than moving?
With the economy and the property market the way it is at the moment, you are not alone! According to analysis from Pepper Money, home improvement is becoming very popular with search volume hitting 59%: the most popular search being – you’ve guessed it – loft conversions.
In these ever-changing times, investment in your current property can feel like a more sound and sensible way to look after your money and your future needs.
While loft conversions may be the number one Google Search Trend result between April 2022 and 2023, walk-in wardrobes came in at number three. And of course, there’s always an option for your loft conversion to become just that.
Analysis also showed that loft conversions are a great way to increase both a home’s living space and value. A high quality loft conversion has the potential to increase a property’s value by up to 20%. Its increase in square footage raises the appeal to future purchasers, while giving homeowners a new way to interact with your home.
Why invest in home improvement?
- It’s more affordable than moving
- You can change your home to be exactly as you like it
- Increase your square footage
- Increase your property’s value
- If you manage it properly, you can keep the costs down
It’s now – or not for a while – with moving
Of course, if you did want to move, now would be the best time to get things in motion, as the Bank of England has increased the base rate many times recently, with house prices now at elevated levels, it’s predicted that the only way is down. It’s also likely that there will be further increases to the base rate which will lead to borrowing being more expensive, making high levels of borrowing harder. If you are selling, now may be the right time to do it, to take advantage of the tail end of the price boom. There are more currently more buyers on the market than sellers.
If all this sounds far too stressful, it’s time to make your property an even better home, fulfilling your needs right now, and in the future, with the most sought after option right now – a loft conversion.
Would you like to get in on the latest trend and talk through your loft conversion options? Get in touch!
